08:41:39 EDT Fri 02 Jun 2023
Enter Symbol
or Name

Login ID:

Energy Summary for Nov. 8, 2022

2022-11-08 20:35 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost $2.88 to $88.91 on the New York Merc, while Brent for January lost $2.65 to $95.36, sliding on Chinese COVID concerns and U.S. midterm jitters (all figures in this para U.S.). Western Canadian Select traded at a discount of $29.22 to WTI, up from a discount of $29.56. Natural gas for December lost 80 cents to $6.14. The TSX energy index lost 2.70 points to close at 268.87.

Canadian energy stocks fell with commodity prices. Stephen Loukas's Alberta Cardium-focused Obsidian Energy Inc. (OBE) lost $1.71 to $11.86 on 1.65 million shares, after releasing its third quarter financials. It touted an "active" quarter of "strong" production. Despite the apparent activity and strength, Obsidian's production slipped to 30,000 barrels a day in the third quarter, compared with 31,600 in the second quarter. Weaker prices and higher spending also took a toll on the results, cutting cash flow to $1.27 a share in the third quarter from $1.85 a share in the second quarter.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2023 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.